(http://www.augustenergy.biz/, September 10, Thursday --- Article from EnergyAsia ...
(http://www.energyasia.com/) ---Ezra Holdings Limited, the Singapore-based support and marine services provider for the offshore oil and gas industry, said it has signed a vessel operating agreement (VOA) that will power its future returns and growth without any major capital outlay.
As part of the agreement, Ezra said it will manage and operate four new anchor, handling, towing and supply (AHTS) vessels for an unnamed offshore specialist fund in return for a half-share of the profit earned, after deducting direct operating expenses from the charter revenue.
The vessels are still under construction, with the first AHTS slated for delivery in the first quarter of 2010. The vessels provide basic offshore oil and gas support services industry that are deployed throughout the oil field life cycle.
Ezra’s managing director, Lionel Lee, said: “This latest deal sets us in line with our strategy to expand our capabilities and extract value from our existing expertise in offshore fleet management. This is a powerful endorsement of our edge in the sector and we intend to grow this into a viable and highly profitable business for the group.
* Full version of report can be found in EnergyAsia Daily at http://www.energyasia.com/
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